Sfmg LLC Buys 6,785 Shares of Comstock Resources, Inc. (NYSE:CRK)

Sfmg LLC grew its holdings in Comstock Resources, Inc. (NYSE:CRK) by 33.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 26,785 shares of the oil and gas producer’s stock after purchasing an additional 6,785 shares during the quarter. Sfmg LLC’s holdings in Comstock Resources were worth $488,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Barclays PLC raised its holdings in shares of Comstock Resources by 256.3% in the 3rd quarter. Barclays PLC now owns 155,614 shares of the oil and gas producer’s stock valued at $1,731,000 after purchasing an additional 111,934 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Comstock Resources by 9.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 170,338 shares of the oil and gas producer’s stock valued at $1,896,000 after purchasing an additional 13,998 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Comstock Resources by 4.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,413,820 shares of the oil and gas producer’s stock valued at $15,736,000 after purchasing an additional 57,376 shares in the last quarter. Intech Investment Management LLC bought a new stake in shares of Comstock Resources in the 3rd quarter valued at about $419,000. Finally, Sanctuary Advisors LLC bought a new stake in shares of Comstock Resources in the 3rd quarter valued at about $169,000. Institutional investors own 36.13% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on CRK shares. Morgan Stanley assumed coverage on shares of Comstock Resources in a report on Friday, January 10th. They issued an “equal weight” rating and a $18.00 price target for the company. Mizuho raised shares of Comstock Resources from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $10.00 to $18.00 in a research report on Monday, December 16th. Piper Sandler lifted their price objective on shares of Comstock Resources from $5.00 to $6.00 and gave the stock an “underweight” rating in a research report on Wednesday, January 29th. Truist Financial lifted their price objective on shares of Comstock Resources from $11.00 to $19.00 and gave the stock a “hold” rating in a research report on Monday, January 13th. Finally, StockNews.com raised shares of Comstock Resources to a “sell” rating in a research report on Thursday. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $13.36.

Comstock Resources Stock Up 0.5 %

NYSE:CRK opened at $19.95 on Friday. The company has a market cap of $5.84 billion, a PE ratio of -26.24, a P/E/G ratio of 1.65 and a beta of 0.55. Comstock Resources, Inc. has a twelve month low of $7.74 and a twelve month high of $22.06. The company has a current ratio of 0.46, a quick ratio of 0.60 and a debt-to-equity ratio of 1.27. The company’s 50 day moving average is $19.11 and its two-hundred day moving average is $15.49.

Comstock Resources (NYSE:CRK) last released its earnings results on Tuesday, February 18th. The oil and gas producer reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.14. The company had revenue of $366.51 million for the quarter, compared to the consensus estimate of $370.62 million. Comstock Resources had a negative net margin of 18.32% and a negative return on equity of 3.10%. Analysts anticipate that Comstock Resources, Inc. will post 0.54 EPS for the current year.

Insider Activity

In other news, Director Elizabeth B. Davis sold 10,000 shares of the company’s stock in a transaction on Friday, December 27th. The shares were sold at an average price of $16.98, for a total value of $169,800.00. Following the sale, the director now directly owns 107,632 shares of the company’s stock, valued at $1,827,591.36. This represents a 8.50 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 28,000 shares of company stock valued at $478,460 in the last ninety days. Insiders own 2.00% of the company’s stock.

About Comstock Resources

Comstock Resources, Inc, an independent energy company, engages in the acquisition, exploration, development, and production of natural gas and oil properties in the United States. Its assets are located in the Haynesville and Bossier shales located in North Louisiana and East Texas. The company was incorporated in 1919 and is headquartered in Frisco, Texas.